[ECM]

Don't worry,boom will follow after this bearishness goes though it will be a slow process.All countries are now cutting interest rates and following strict cost cutting measures,bad days will go soon,just keep smiling.No one could stop time,neither you nor me let wind pass above our heads.Everything will be okay in due corse of time.Economic measures normally take 2-3 quarters to show actual results.

Originally Posted by Spitfire

This thread is very depressing.

The place i work, we are seeing a fall in revenue in licensing by 32%. People are getting fired on a day's notice.

All are wondering who is next.

Hope everyone here does not have to go through any trauma because of this. The end of the tunnel is not in sight yet.

[penpavan]

I am getting bugged by a lot of my friends today. I guess everyone is on "that forced holiday".

[shreyas99]

At my workplace, we have just received a notification that there would be "No Salary Hike this year, No onsite travel, every dollar that is being spent needs to be revisted to cut cost" blah blah blah.

[kpbhatt]

All my variable pay for this financial year is gone ; thats almost 30% of the salary. To top it some of my good team members were handed out unceremonial pink slips behind my back since they were high cost resources ; Those guys would never trust me again

Even today the HR and other support groups have the audacity to take a sal hike in these times when the bread and butter business of the company ( prod development ) is going through a rough patch. This is amidst anouncement of sal reduction for all the prod development teams.

Is this ethical -- definitely not; will i survive it -- i might; will i trust this firmm again -- not by a long shot

[sameer_dg]

Is this the reason there are far too many super bikes on sale in the bikes section on market place.

Our company has adapted to power saving methods and I guess they are saving about 2lacs a month by just keep the right lights on and by running the center AC in cycles according to the sun's location innovative.

I would say stay calmn focus on work and the times will change.

[Spitfire]

Originally Posted by ECM

Don't worry,boom will follow after this bearishness goes though it will be a slow process.All countries are now cutting interest rates and following strict cost cutting measures,bad days will go soon,just keep smiling.No one could stop time,neither you nor me let wind pass above our heads.Everything will be okay in due corse of time.Economic measures normally take 2-3 quarters to show actual results.

Thanks man for getting the optimism back. You are right we all need to hold on and i am sure we will see better times.

[given2fly]

Basic rule of thumb is to never trust HR. They are famous for playing "Devil wears Prada". A lot of HR people in the forum will pounce on this statement, but all you do see here is HR making the decisions and they are almost always, you know, illogical as you came to see the hard way. They don't understand that the high cost guys may be good for those 2 fools they didn't bother to check with their superiors. Ethics is something they don't know (atleast in India, it is so, most prevalent in IT) and in near future, they will never.

Originally Posted by kpbhatt

All my variable pay for this financial year is gone ; thats almost 30% of the salary. To top it some of my good team members were handed out unceremonial pink slips behind my back since they were high cost resources ; Those guys would never trust me again

Even today the HR and other support groups have the audacity to take a sal hike in these times when the bread and butter business of the company ( prod development ) is going through a rough patch. This is amidst anouncement of sal reduction for all the prod development teams.

Is this ethical -- definitely not; will i survive it -- i might; will i trust this firmm again -- not by a long shot

[srishiva]

Originally Posted by given2fly

Basic rule of thumb is to never trust HR. They are famous for playing "Devil wears Prada". A lot of HR people in the forum will pounce on this statement, but all you do see here is HR making the decisions and they are almost always, you know, illogical as you came to see the hard way. They don't understand that the high cost guys may be good for those 2 fools they didn't bother to check with their superiors. Ethics is something they don't know (atleast in India, it is so, most prevalent in IT) and in near future, they will never.

They are same everywhere in the world.

Didn't you see what the great business teachers at ISB did in Maytas buyout ?

[phamilyman]

Fully agree given.

@sri: Ha ha. You'd think that a prof on any company's board does it for anything more than CV value? Activism my rearside. Its just a whole charade yaar. They can't be heroes. They will internally do whatever possible but publicly most people be quiet. No one's Carl Icahn.

[CBlazer]

I work in one of those companies that have announced a vacation, if you can call it so. I know there are a lot of worried people here like me.

All I would suggest folks is to be more cautious about their spending. Just wish everyone all the best and hope things turn around for the better in early 2009!

[diabloo]

A job well done must be rewarded and hence HR gets the hikes. Doesn't a henchman get extra moolah for a job well done from the head?

Originally Posted by kpbhatt

Even today the HR and other support groups have the audacity to take a sal hike in these times when the bread and butter business of the company ( prod development ) is going through a rough patch

[Jaggu]

Just came across this article, dont know if its just rumor or not.

Oracle India staff now get hour-based pay?

[ramie2400]

OK sad update,the company where i work is planning to shut down their 2D/3D Graphic solution department and i am the HOD,so i have been given a 7days advance notice,from past 4months i was working on 33% less salary as a sacrifice for the uplift of the company and this is now what i have been rewarded

[given2fly]

Their MphasiS' 20% pay cut was a big hoax (original source:business-standard). Company has denied that and there aren't any cuts. This one is also from Business-Standard and certainly they are hitting under the belt with such moronic articles.

http://www.business-standard.com/ind.../01/36/345377/

Simply, don't look at these articles. There are a lot of trouble cooking in Oracle India & former iFlex but this is not one of them.

Originally Posted by Jaggu

Just came across this article, dont know if its just rumor or not.

Oracle India staff now get hour-based pay?

[Jaggu]

Originally Posted by given2fly

Their MphasiS' 20% pay cut was a big hoax (original source:business-standard). Company has denied that and there aren't any cuts. This one is also from Business-Standard and certainly they are hitting under the belt with such moronic articles.

http://www.business-standard.com/ind.../01/36/345377/

Simply, don't look at these articles. There are a lot of trouble cooking in Oracle India & former iFlex but this is not one of them.

Guess so but its very irresponsible for Business Standard to put out such an article, on the other hand rediff is one masala site